The Economic Cooperation Organization (ECO) originally named Regional Cooperation for Development-(RCD) was set up by Iran, Pakistan and Turkey at a conference held in Istanbul in July 1964 with the aim of bringing the economies of these three countries closer together and thus enhances their chances of development.

HISTORY OF ECO POOL

The Insurance Industry was one of the domains where concerted action came early. The Reinsurance Organizations of the three countries came together and decided to establish of Reinsurance Pools of various classes of non-life business resulting in the following setup:

The goal of these various RCD Pools was to increase the volume of business transactions both within and outside the RCD region (Iran, Pakistan and Turkey) and the retention capacities of their members.

With the aim of rationalizing the administration procedures the Management Board of RCD Reinsurance Pools decided to merge these into a single integrated Reinsurance Pool encompassing all classes of non-business.